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Total amount raised
$439M
Latest funding date
2026-04-09
Location
Pipe has raised funding across multiple rounds backed by notable investors including Fin Capital, MaC Venture Capital, Craft Ventures, Greenspring Associates, Victory Park Capital, and others.
What Is Pipe?
Pipe is a San Francisco-based fintech company founded in 2019 by Harry Hurst, Josh Mangel, and Zain Allarakhia. Originally launched as a marketplace for trading recurring revenue streams, Pipe pivoted in 2024 to become an embedded capital platform — Pipe Capital — that delivers custom working capital advances directly within the software tools small and medium-sized businesses (SMBs) already use. Over the past two years, Pipe has originated more than 15,000 advances totaling over $300 million globally, with key partners including Boulevard, GoCardless, Housecall Pro, Live Payments, Uber, and Epos Now.
How Much Funding Has Pipe Raised?
- Seed
- Amount Raised: USD 6,000,000
- Date: February 2020
- Lead Investors: Craft Ventures
- Participants: Fika Ventures, MaC Venture Capital, Naval Ravikant, and others
- Seed
- Amount Raised: USD 10,000,000
- Date: June 2020
- Lead Investors: Fin Capital
- Participants: Tribe Capital, Uncorrelated Ventures, Lachy Groom, Anthemis, Craft Ventures, Fika Ventures, MaC Venture Capital, and others
- Series A (Series Unknown)
- Amount Raised: USD 50,000,000
- Date: March 2021
- Lead Investors: Raptor Group, Next47
- Participants: Siemens, HubSpot Ventures, Shopify, Slack, Marc Benioff, Chamath Palihapitiya, Craft Ventures, Tribe Capital, Republic, MSD Capital, and others
- Series B (Series Unknown)
- Amount Raised: USD 250,000,000
- Date: May 2021
- Lead Investors: Greenspring Associates
- Valuation: USD 2,000,000,000
- Participants: Fin Capital, Morgan Stanley, Seven Seven Six, SBI Investment, Republic, Insight Partners, Sound Ventures, and many others
- Debt Financing
- Amount Raised: USD 7,120,189
- Date: September 2022
- Lead Investors: Undisclosed
- Debt Financing (Credit Facility)
- Amount Raised: USD 100,000,000
- Date: June 2024
- Lead Investors: Victory Park Capital
- Series Unknown (Equity)
- Amount Raised: USD 16,000,000
- Date: April 2026
- Lead Investors: Fin Capital, MaC Venture Capital
- Notes: First equity raise since Pipe relaunched its embedded financing product in 2024. Marlon Nichols of MaC Venture Capital joined Pipe's board of directors.
Total Amount Raised: At least $439M based on disclosed funding (summing $6M + $10M + $50M + $250M + $7.12M + $100M + $16M across all disclosed rounds).
Key Investors
- Fin Capital
- Details: Fin Capital is a venture firm focused on fintech. Co-led Pipe's most recent $16M equity round (April 2026). Logan Allin, Founder and Managing Partner, has served on Pipe's board. Fin Capital also participated in the June 2020 seed round.
- MaC Venture Capital
- Details: MaC Venture Capital co-led the April 2026 $16M equity round. Marlon Nichols, General Managing Partner, joined Pipe's board as part of this investment. MaC also participated in earlier seed rounds.
- Craft Ventures
- Details: Craft Ventures led Pipe's initial $6M seed round in February 2020 and participated in subsequent rounds, providing early institutional backing for the platform.
- Greenspring Associates
- Details: Greenspring Associates led Pipe's $250M Series B round in May 2021 at a $2 billion valuation, the company's largest equity raise to date.
- Victory Park Capital
- Details: Victory Park Capital provided a $100M credit facility to Pipe in June 2024, later extended and upsized to $225M for a further two years as of April 2026, serving as the primary debt financing partner for Pipe's capital warehouse.
What's Next for Pipe?
Pipe is positioning itself as infrastructure inside the software tools small businesses already use. With its recent $16M equity raise and an extended $225M capital warehouse facility with Victory Park Capital, Pipe is focused on accelerating growth, expanding its partner network, and progressing toward profitability. The company has already expanded internationally, with 20% of capital originations coming from outside the US, and aims to grow that share further. Under new CEO Claurelle Rakipovic, Pipe tripled revenue in 2025 and nearly doubled year-over-year in Q1 2026, suggesting strong momentum as it scales its embedded capital platform.
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